Press Release
Mülheim/Ruhr, March 31, 2014
Brenntag successfully extends the term of its existing
financing ahead of schedule and reduces financing costs
Brenntag, the global market leader in chemical distribution, has extended the
term of its existing syndicated credit facility ahead of schedule and achieved
further improvements. The loan agreement with an original term to July 2016
has been extended and now runs to March 2019. At the same time, the interest
margins have been reduced significantly and the volume of the credit facility has
been expanded by € 100 million.
With a volume that now amounts to a € 1.6 billion, the syndicated credit facility
is by far the most important financing instrument for the Brenntag Group. With
the term extension, Brenntag has further improved the maturity profile of its
overall debt and placed it on an extremely long-term footing.
It is expected to improve the annual interest result by more than € 6 million. As
the transaction was comfortably oversubscribed, the revolving credit facility has
been increased by € 100 million to € 600 million.
These changes reflect Brenntag’s continued positive development and the
excellent reputation it enjoys on the capital markets.
Georg Müller, CFO of the Brenntag Group: “With this transaction, we have
placed our financing on an even longer-term footing, reduced our interest costs
significantly and expanded our financial flexibility. We are particularly pleased
about the extremely positive reception and the confidence displayed by our
banking syndicate, which allowed us to increase the volume of the credit
facility.”
The transaction, which was heavily oversubscribed, was supported by a
syndicate of 22 banks from Brenntag’s existing circle of banks. The
bookrunners were BNP Paribas, Commerzbank AG, HSBC Trinkaus &
Burkhardt AG, Landesbank Hessen-Thüringen Girozentrale, The Royal Bank of
Scotland plc. and UniCredit Bank AG.
Brenntag AG
Unternehmenskommunikation
Corporate Communications
Hubertus Spethmann
Stinnes-Platz 1
45472 Mülheim an der Ruhr
Germany
Phone +49(0)208/78 28-7701
Fax
+49(0)208/78 28-7220
E-Mail: hubertus.spethmann@brenntag.de
www.brenntag.com
About Brenntag
Brenntag, the global market leader in chemical distribution, covers all major
markets with its extensive product and service portfolio. Headquartered in
Mülheim an der Ruhr, Germany, the company operates a global network with
more than 480 locations in more than 70 countries. In 2013, the company,
which has a global workforce of more than 13,000, generated sales of EUR 9.8
billion (USD 13.0 billion). Brenntag connects chemical manufacturers and
chemical users. The company supports its customers and suppliers with tailormade distribution solutions for industrial and specialty chemicals. With over
10,000 products and a world-class supplier base, Brenntag offers one-stopshop solutions to around 170,000 customers. This includes specific application
technology, an extensive technical support and value-added services such as
just-in-time delivery, product mixing, formulation, repackaging, inventory
management and drum return handling. Long-standing experience and local
excellence in the individual countries characterize the global market leader for
chemical distribution.
2
Press contact:
Hubertus Spethmann
Brenntag AG
Corporate Communications
Stinnes-Platz 1
45472 Mülheim an der Ruhr
Germany
Telephone: +49 (208) 7828-7701
Fax: +49 (208) 7828-7220
E-Mail: hubertus.spethmann@brenntag.de
http://www.brenntag.com
Financial media:
Thomas Langer
Brenntag AG
Corporate Finance & Investor Relations
Stinnes-Platz 1
45472 Mülheim an der Ruhr
Germany
Telephone: +49 (208) 7828-7653
Fax: +49 (208) 7828-7755
E-Mail: thomas.langer@brenntag.de
http://www.brenntag.com
Investor contact:
Thomas Langer, Diana Alester, René Weinberg
Brenntag AG
Corporate Finance & Investor Relations
Stinnes-Platz 1
45472 Mülheim an der Ruhr
Germany
Telephone: +49 (208) 7828-7653
Fax: +49 (208) 7828-7755
E-Mail: IR@Brenntag.de
http://www.Brenntag.com
3